Retirees of West Kenya Sugar Company Limited associated to billionaire Jaswart Rai are urgently calling on the Ethics and Anti-Corruption Commission (EACC) to investigate a case involving the alleged misappropriation of Ksh. 88 million by their Sacco, which has been managing employee savings.
The retirees, who have faced prolonged delays in receiving their retirement benefits, accuse the Sacco of evading its responsibilities and mismanaging funds that were meant for their welfare.
Several retirees, including Jeremiah Murumba, expressed their frustration, noting that the Sacco has consistently blamed non-performing loans for the delay in payouts.
However, the retirees argue that none of them have taken these loans, prompting them to demand transparency and accountability.
They even hired an independent auditor to assess the Sacco’s books and determine the whereabouts of their funds.
In addition to seeking EACC’s involvement, the retirees have called for intervention from the Cooperative Cabinet Secretary, Wycliffe Oparanya, to resolve the matter.
They plan to convene a meeting in November 2024, inviting key stakeholders, including local government officials, to address their grievances and highlight the alleged fraud.
West Kenya Sugar Company has distanced itself from the Sacco, despite its employees being the primary members.
The company urged retirees to follow legal channels in pursuing their claims, asserting that it bears no responsibility for Sacco operations.
However, some of the Sacco officials suspected of embezzling funds remain employed at the sugar mill, which further fuels suspicions of internal protection and corruption.
This situation is part of a broader trend in Kenya, where Saccos across various sectors have faced similar challenges.
Mismanagement and non-remittance of funds by employer institutions have often left many Sacco members, particularly retirees, struggling to access their hard-earned savings.
A report by SASRA revealed that County governments, parastatals, and other employer organizations owe billions in unremitted funds to Saccos, causing significant liquidity problems for these cooperatives and financial distress for their members.
For the retirees of West Kenya Sugar, the issue is not just financial it is about justice and accountability.
With many struggling to pay school fees for their children and meet basic needs, the missing Ksh. 88 million represents more than just a financial dispute, it symbolizes years of labor and trust that they feel has been betrayed.
The retirees hope that their efforts to expose the misappropriation will lead to action from both the EACC and cooperative officials.
Their fight for justice continues, with many vowing to name and shame those responsible for the alleged theft during the upcoming meeting.
This growing crisis also highlights the urgent need for regulatory reforms to ensure transparency and accountability in Sacco management across Kenya.
Without such reforms, many more retirees and workers may face similar financial hardships in the future.
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